Superannuation (Government Co-Contribution for Low Income Earners) Regulations 2004 (Repealed)

PART 1 - PRELIMINARY  

REGULATION 1   1   NAME OF REGULATIONS  
These Regulations are the Superannuation (Government Co-contribution for Low Income Earners) Regulations 2004.

REGULATION 2   2   COMMENCEMENT  
These Regulations commence on the date of their notification in the Gazette.

REGULATION 3   3   DEFINITIONS  
In these Regulations:

Act
means the Superannuation (Government Co-contribution for Low Income Earners) Act 2003.

allocated surplus amount
(Repealed by SLI No 39 of 2015)

approved form
has the meaning given by section 388-50 in Schedule 1 to the Taxation Administration Act 1953.

Australian Business Number
has the meaning given by section 41 of the A New Tax System (Australian Business Number) Act 1999.

client identifier
means a number or other unique identification assigned by a superannuation provider to a member's accounts for linking all dealings by the provider with the member.

contributed amounts
(Repealed by SLI No 39 of 2015)

eligible account
, for a member, means an account held by the member with a complying superannuation fund or an RSA:


(a) in relation to which the Commissioner has not been advised that the account will not accept Government co-contributions; and


(b) that is not an account for which the conditions of release are any of those mentioned in items 102, 103 or 109 of Schedule 1 to the Superannuation Industry (Supervision) Regulations 1994 only; and


(c) that has not commenced paying a pension or an annuity.

product identification number
means a number or other unique identification assigned by a superannuation provider to a product offered by the provider.

reasonably attributable to interest
(Repealed by SLI No 39 of 2015)

reporting day
means 15 January, 15 April and 15 July.

superannuation fund number
means the number assigned to a superannuation provider by the Australian Prudential Regulation Authority.

supplier
(Repealed by SLI No 39 of 2015)

PART 2 - CO-CONTRIBUTIONS  

Division 2.1 - Administration  

4   (Repealed) REGULATION 4 INTEREST RATE  
(Repealed by SR No 279 of 2004)

REGULATION 5   DETERMINING WHERE A GOVERNMENT CO-CONTRIBUTION OR UNDERPAID AMOUNT IS TO BE DIRECTED  

5(1)  
For subsections 15(3) and 19(6) of the Act and subject to subregulation (3), the Commissioner must determine that a Government co-contribution or an underpaid amount is to be paid in respect of a person in accordance with the following table.


Item Person's circumstances Government co-contribution or underpaid amount is to be paid to:
1 The Commissioner is satisfied that the person is deceased The person's legal personal representative
2 The Commissioner is satisfied that the person has retired and no longer has an eligible account The person
3 The person has nominated an eligible account to the Commissioner for the purpose of receiving a Government co-contribution The eligible account
4 The person has 1 or more eligible accounts and has not nominated an eligible account to the Commissioner for the purpose of receiving a Government co-contribution (a) If 1 of the eligible accounts has received a Government co-contribution in the current financial year - that eligible account
    (b) If paragraph (a) does not apply, the eligible account:
(i) to which the person has made the greatest amount of eligible personal superannuation contributions; or
(ii) with the greatest amount of concessional contributions;
in the most recent financial year for which the Commissioner has received a statement in respect of the member under section 390-5 of Schedule 1 to the Taxation Administration Act 1953
    (c) If paragraphs (a) and (b) do not apply, the eligible account with the most recently opened account date, for which the Commissioner has received a statement in respect of the member under section 390-5 of Schedule 1 to the Taxation Administration Act 1953
    (d) If paragraphs (a), (b) and (c) do not apply, the eligible account with the highest account balance in the most recent financial year for which the Commissioner has received a statement in respect of the member under section 390-5 of Schedule 1 to the Taxation Administration Act 1953
    (e) If paragraphs (a), (b), (c) and (d) do not apply, the eligible account determined by the Commissioner
5 The person does not have an eligible account A new or existing account of the person in the Superannuation Holding Accounts Special Account

Note:

The Small Superannuation Accounts Act 1995 established the Superannuation Holding Accounts Reserve (SHAR) and provided that after the commencement of the Financial Management and Accountability Act 1997, the SHAR was a component of the Reserved Money Fund - see section 8 of that Act.

The Financial Management Legislation Amendment Act 1999 converted the SHAR into a Special Account for the purposes of the Financial Management and Accountability Act 1997, with the name Superannuation Holding Accounts Account - see section 5 of that Act.

The Financial Framework Legislation Amendment Act 2005 renamed the Special Account as the Superannuation Holding Accounts Special Account - see item 324 of Schedule 1 to that Act.

5(2)  
If the person nominates an eligible account for item 3 in the table in subregulation (1), the nomination has effect until:


(a) the person nominates another eligible account; or


(b) the nominated account stops accepting Government co-contributions for the person; or


(c) the nominated account ceases to be an eligible account.

5(3)  
A paragraph in item 4 of the table in subregulation (1) does not apply to a payment if the Commissioner is reasonably satisfied that the eligible account mentioned in that paragraph will not or cannot accept the payment.

Division 2.2 - Payment of co-contribution  

6   (Repealed) REGULATION 6 INFORMATION TO BE GIVEN TO COMMISSIONER  
(Repealed by SLI No 39 of 2015)

REGULATION 7   7   PAYMENT DATES  
For subsections 17(2) and 21(2) of the Act, the payment date for an amount is the day 60 days after the Commissioner is able to be satisfied that a determination must be made.

REGULATION 8   INFORMATION TO BE GIVEN BY COMMISSIONER  

8(1)  
For subsection 18(1) of the Act, the Commissioner must give information on the matters mentioned in Part 1 of Schedule 2.

8(2)  
For subsection 18(2) of the Act, the Commissioner must give information on the matters mentioned in Part 2 of Schedule 2.

Division 2.3 - Overpayments  

REGULATION 9   INFORMATION FOR RECOVERY OF OVERPAYMENT  

9(1)  
For item 3 of the table to subsection 24(3) of the Act, the notice must include information on the matters mentioned in Part 1 of Schedule 3.

9(2)  
For item 4 of the table to subsection 24(3) of the Act, the notice must include the information required under Part 2 of Schedule 3.

9(3)  
For subsection 24(7) of the Act, the notice must include information on the matters mentioned in Part 3 of Schedule 3.

(Repealed) Division 2.4 - Statements  

10   (Repealed) REGULATION 10 STATEMENTS GENERALLY  
(Repealed by SLI No 72 of 2007)

11   (Repealed) REGULATION 11 STATEMENTS WHERE CONTRIBUTED AMOUNTS TRANSFERRED BETWEEN SUPERANNUATION PROVIDERS  
(Repealed by SLI No 72 of 2007)

PART 3 - INFORMATION GENERALLY  

REGULATION 12   FORM OF INFORMATION TO BE GIVEN TO THE COMMISSIONER  

12(1)  
This regulation applies to information to be given by a person to the Commissioner under the Act or these Regulations, other than information to be contained in a statement under Division 390 of Schedule 1 to the Taxation Administration Act 1953.

12(2)  
The information must be given in the approved form.

12(3)  
(Repealed by SLI No 39of 2015)

12(4)  
(Repealed by SLI No 39 of 2015)

12(5)  
(Repealed by SLI No 39 of 2015)

13   (Repealed) REGULATION 13 WHERE INFORMATION IS TO BE GIVEN  
(Repealed by SLI No 39 of 2015)

14   (Repealed) REGULATION 14 CHANGE OF SUPERANNUATION PROVIDER'S ADDRESS FOR SERVICE  
(Repealed by SLI No 39 of 2015)

15   (Repealed) REGULATION 15 HOW AN ADDRESS FOR SERVICE WILL BE DETERMINED  
(Repealed by SLI No 39 of 2015)

16   (Repealed) REGULATION 16 LAST KNOWN PLACE OF BUSINESS OR RESIDENCE  
(Repealed by SLI No 39 of 2015)

REGULATION 17   CHANGE OR OMISSION IN INFORMATION GIVEN TO THE COMMISSIONER  

17(1)  
If at any time a superannuation provider becomes aware of a change or omission in any information given to the Commissioner, the provider must:


(a) tell the Commissioner of the change; or


(b) give the omitted information to the Commissioner;

as the case requires, unless the provider is reasonably satisfied that the change or omission will not affect a determination.

17(2)  
Information required by subregulation (1) must be given:


(a) if the provider becomes aware of the change or omission at least 30 days before the next reporting day - before that reporting day; or


(b) in any other case - before the reporting day after the next reporting day.

REGULATION 18   GIVING A TAX FILE NUMBER STATEMENT TO THE COMMISSIONER  

18(1)  
If:


(a) a superannuation provider has given information to the Commissioner in connection with the operation of the Act or these Regulations in relation to a member; and


(b) the member did not quote his or her tax file number to the provider in connection with the operation or possible future operation of the Act before the information was given; and


(c) the Commissioner has not informed the provider of the member's tax file number; and


(d) the member later quotes the tax file number to the provider in connection with the operation or possible future operation of the Act;

the provider must give a statement to the Commissioner relating to the member's tax file number.

Note:

A form will be approved by the Commissioner for this purpose - see subsection 12(2). The approved form may require the provider to give information about members and their tax file numbers, and may require the provider to give other information.

18(2)  
A tax file number statement must be given to the Commissioner:


(a) if it is quoted to the provider not less than 30 days before the next reporting day - before that reporting day; or


(b) in any other case - before the reporting day after the next reporting day.

Note:

Superannuation providers must comply with any guidelines relating to tax file number information issued by the Privacy Commissioner under section 17 of the Privacy Act 1988.

19   (Repealed) REGULATION 19 COMMISSIONER MAY CAUSE INFORMATION TO BE MARKED OR ANNOTATED  
(Repealed by SLI No 39 of 2015)

20   (Repealed) REGULATION 20 NEED TO GIVE INFORMATION IN THE REQUIRED FORM AND MANNER  
(Repealed by SLI No 39 of 2015)

21   (Repealed) REGULATION 21 COMMISSIONER MAY REQUEST INFORMATION  
(Repealed by SLI No 39 of 2015)

PART 3A - ADMINISTRATION  

REGULATION 21A   REPORTS TO PARLIAMENT - DETAILS  

21A(1)  
For subsection 54(1) of the Act, the details are as follows:


(a) the number of recipients of Government co-contributions during the quarter;


(b) the total amount of Government co-contributions made during the quarter by the Commissioner;


(c) the total amount of Government co-contributions recovered during the quarter as overpaid amounts under section 24 of the Act.

21A(2)  
For paragraph 54(2)(b) of the Act, the details are as follows:


(a) the number of recipients of Government co-contributions during the year;


(b) the total amount of Government co-contributions made during the year by the Commissioner;


(c) the total amount of Government co-contributions recovered during the year as overpaid amounts under section 24 of the Act.

21A(3)  
For paragraph 54(2)(c) of the Act, the ranges of total income are mentioned in Part 1 of Schedule 7.

21A(4)  
For paragraph 54(2)(d) of the Act, the ranges of taxable income are mentioned in Part 2 of Schedule 7.

REGULATION 21B   REPORTS TO PARLIAMENT - DETAILS ABOUT LOW INCOME SUPERANNUATION TAX OFFSETS  

21B(1)  
For subsection 12G(1) of the Act, the details to be included in a report for a quarter are the following:


(a) the number of beneficiaries of a low income superannuation tax offset during the quarter;


(b) the total amount of low income superannuation tax offsets made during the quarter by the Commissioner;


(c) the total amount of low income superannuation tax offsets recovered during the quarter as overpaid amounts under section 24 of the Act.

21B(2)  
For paragraph 12G(2)(b) of the Act, the details to be included in a report for a financial year are the following:


(a) the number of beneficiaries of a low income superannuation tax offset made under subsection 12C(1) of the Act during the financial year;


(b) the number of beneficiaries of a low income superannuation tax offset made under subsection 12C(2) of the Act during the financial year;


(c) the total number of beneficiaries of a low income superannuation tax offset during the financial year;


(d) the number of those beneficiaries with an adjusted taxable income, or estimated adjusted taxable income, for the income year that corresponds to the financial year, in each of the following ranges:


(i) less than $1,000;

(ii) at least $1,000 but less than $2,000;

(iii) each subsequent range of $1,000 starting immediately after the previous range of $1,000, with the final range being at least $35,000 but less than $36,000;

(iv) at least $36,000 but no more than $37,000;


(e) the amount of low income superannuation tax offsets made under subsection 12C(1) of the Act during the financial year;


(f) the amount of low income superannuation tax offsets made under subsection 12C(2) of the Act during the financial year;


(g) the total amount of low income superannuation tax offsets made during the financial year by the Commissioner;


(h) the total amount of low income superannuation tax offsets recovered during the financial year as overpaid amounts under section 24 of the Act.

21B(3)  
For this regulation, a person's adjusted taxable income for an income year is worked out in accordance with Schedule 3 to the A New Tax System (Family Assistance) Act 1999 (disregarding clauses 3 and 3A of that Schedule).

PART 4 - MISCELLANEOUS  

22   (Repealed) REGULATION 22 SERVICES OF NOTICES ETC  
(Repealed by SLI No 39 of 2015)

23   (Repealed) REGULATION 23 PRESUMPTION AS TO SIGNATURES  
(Repealed by SLI No 39 of 2015)

REGULATION 24   AMOUNTS PAID OR REPAID TO BE ROUNDED UP  

24(1)  
If an amount to be paid under section 12, 21 or 22 of the Act is an amount of whole dollars and an amount of cents, the amount is to be rounded up to the nearest dollar.

24(2)  
If an amount to be paid or repaid under the Act, other than under section 23 of the Act or subregulation (1), is not a multiple of 5 cents, the amount is to be increased to the nearest multiple of 5 cents.

PART 5 - TRANSITIONAL  

REGULATION 30   30   AMENDMENTS MADE BY THE SUPERANNUATION AND CORPORATIONS LEGISLATION AMENDMENT (LOW INCOME SUPERANNUATION CONTRIBUTION) REGULATION 2013  
The amendments made by items 1 to 5 and 7 of Schedule 1 to the Superannuation and Corporations Legislation Amendment (Low Income Superannuation Contribution) Regulation 2013 apply in relation to the 2012-13 income year and later income years.

REGULATION 31   NOMINATED ACCOUNTS FOR 2012-13 INCOME YEAR  

31(1)  
This regulation applies in relation to the payment of a low income superannuation contribution for the 2012-13 income year that is made in the financial year starting on 1 July 2013.

31(2)  
For item 3 of the table in subregulation 5(1), the nomination of an eligible account for the purpose of receiving a Government co-contribution is also taken to be the nomination of an eligible account for the purpose of receiving the low income superannuation contribution.

(Repealed) SCHEDULE 1 - CO-CONTRIBUTION REPAYMENT INFORMATION  

(Repealed by SLI No 39 of 2015)

SCHEDULE 2 - GOVERNMENT CO-CONTRIBUTION PAYMENT INFORMATION  

(regulation 8)


Part 1 - Payment to person or representative
  • 101 Amount of the Government co-contribution
  • 102 Financial year to which the Government co-contribution applies
  • 103 Amount of eligible personal superannuation contributions or concessional contributions (whichever is relevant to the payment) for that financial year
  • 104 The right to apply for a review under section 49 of the Act
  • Part 2 - Payment to superannuation provider
    1   Superannuation provider
  • 101 Name
  • 102 Tax file number
  • 103 Australian Business Number (if applicable)
  • 104 Superannuation provider product identification number (if applicable)
  • 105 Superannuation fund number (if applicable)
  • 106 (Omitted by SR No 151 of 2004)
  • 107 Address
  • 2   The person
  • 201 Name
  • 202 Date of birth
  • 203 Account number
  • 204 Tax file number (if quoted to the provider)
  • 3   Amounts
  • 301 Government co-contribution amount
  • SCHEDULE 3 - PROPOSED RECOVERY INFORMATION  

    (regulation 9)


    Part 1 - Notice of proposed recovery - person or representative
  • 101 The person's name
  • 102 The person's tax file number
  • 103 Amount of Government co-contribution
  • 104 Amount to be recovered
  • 105 Date by which amount must be paid
  • 106 The right to apply for a review under section 49 of the Act
  • 107 Reason that the Government co-contribution was overpaid
  • Part 2 - Notice of proposed recovery - superannuation provider
  • 201 The person's name
  • 202 The person's account number
  • 203 The person's date of birth
  • 204 The person's tax file number (if quoted to the provider)
  • 205 (Repealed by SR No 151 of 2004)
  • 206 Amount to be recovered
  • 207 Date by which amount must be paid
  • Part 3 - Deduction or debit
  • 301 The amount of the original Government co-contribution overpaid
  • 302 The amount of the deduction or debit
  • 303 If an amount is deducted from a later Government co-contribution or debited - the financial year for which the original Government co-contribution was paid
  • 304 The financial year for the Government co-contribution from which the deduction or debit was made
  • 305 The right to apply for a review under section 49 of the Act
  • 306 (Repealed by SR No 151 of 2004)
  • 307 The amount that has been debited from a Government co-contribution paid to an account in the Superannuation Holding Accounts Special Account
  • (Repealed) SCHEDULE 4 - STATEMENTS GENERALLY  

    (Repealed) SCHEDULE 5 - TRANSFERRED AMOUNTS INFORMATION  

    SCHEDULE 6 - TAX FILE NUMBER STATEMENT  

    (subregulation 18(1))


    SCHEDULE 7 - DETAILS IN REPORTS TO PARLIAMENT  

    (subregulations 21A(3) and (4))


    Part 1 - Ranges of total income


    Item Range of income
    101 $0 to $999
    102 $1 000 to $1 999
    103 $2 000 to $2 999
    104 $3 000 to $3 999
    105 $4 000 to $4 999
    106 $5 000 to $5 999
    107 $6 000 to $6 999
    108 $7 000 to $7 999
    109 $8 000 to $8 999
    110 $9 000 to $9 999
    111 $10 000 to $10 999
    112 $11 000 to $11 999
    113 $12 000 to $12 999
    114 $13 000 to $13 999
    115 $14 000 to $14 999
    116 $15 000 to $15 999
    117 $16 000 to $16 999
    118 $17 000 to $17 999
    119 $18 000 to $18 999
    120 $19 000 to $19 999
    121 $20 000 to $20 999
    122 $21 000 to $21 999
    123 $22 000 to $22 999
    124 $23 000 to $23 999
    125 $24 000 to $24 999
    126 $25 000 to $25 999
    127 $26 000 to $26 999
    128 $27 000 to $27 999
    129 $28 000 to $28 999
    130 $29 000 to $29 999
    131$30 000 to $30 999
    132 $31 000 to $31 999
    133 $32 000 to $32 999
    134 $33 000 to $33 999
    135 $34 000 to $34 999
    136 $35 000 to $35 999
    137 $36 000 to $36 999
    138 $37 000 to $37 999
    139 $38 000 to $38 999
    140 $39 000 to $39 999
    141 $40 000 to $40 999
    142 $41 000 to $41 999
    143 $42 000 to $42 999
    144 $43 000 to $43 999
    145 $44 000 to $44 999
    146 $45 000 to $45 999
    147 $46 000 to $46 999
    148 $47 000 to $47 999
    149 $48 000 to $48 999
    150 $49 000 to $49 999
    151 $50 000 to $50 999
    152 $51 000 to $51 999
    153 $52 000 to $52 999
    154 $53 000 to $53 999
    155 $54 000 to $54 999
    156 $55 000 to $55 999
    157 $56 000 to $56 999
    158 $57 000 to $57 999

    Part 2 - Ranges of taxable income


    Item Range of income
    201 $0 to $4 999
    202 $5 000 to $9 999
    203 $10 000 to $14 999
    204 $15 000 to $19 999
    205 $20 000 to $24 999
    206 $25 000 to $29 999
    207 $30 000 to $34 999
    208 $35 000 to $39 999
    209 $40 000 to $44 999
    210 $45 000 to $49 999
    211 $50 000 to $54 999
    212 $55 000 to $59 999
    213 $60 000 to $64 999
    214 $65 000 to $69 999
    215 $70 000 to $74 999
    216 $75 000 to $79 999
    217 $80 000 to $84 999
    218 $85 000 to $89 999
    219 $90 000 to $94 999
    220 $95 000 to $99 999
    221 $100 000 and above